More Satyam staffs may be axed

Satyam staff worried new employer may cut jobs G. Naga SridharM. Somasekhar Hyderabad, April 12 A day ahead of the start of the stake sale process of Satyam, worries about a possible “optimisation” of human resources by the new owner bother many employees. “There has been widespread talk about a reorganisation of human resources and changing the business focus in line with the interests of the successful bidder,” Mr Ramesh, a Satyam staffer for four years, told Business Line. Jobs at the company could go if the new investor feels that there are more jobs than could do justice to projects in hand. After all, if the scam-hit company has inflated revenues, it could mean that there are more employees than are necessary.In anticipation of losing jobs, some employees are already seeking opportunities elsewhere. “There has been a noticeable rise in the number exit interviews being done by the HR department,” an important Satyam official said.Soon after news of fraud at the company’s helm broke out earlier this year, recruitment agencies reported a sharp rise in resumes, of Satyam staffers, suddenly appearing in their databases and in mass recruitment web sites.“Even the top managers are also not clear about the continuity of their jobs after the completion of the sale process,” Mr Navin, a senior professional in the marketing department, said.However, in the last four months the company has been in the news for the wrong reasons, attrition has not gone beyond industry average which is in the 10 to 15 per cent range. The reason could be lack of opportunities rather than belief in the revival of Satyam, he added.The mood among Satyamites abroad is no different. A Satyam employee posted in San Diego, US, said over : “Most of us here are trying to shift before something (unpleasant) happens after the sale. Some employees are in the process of joining client companies.” Satyam's clients such as Coca-Cola (which has terminated a contract) and Bank of America have already hired some Satyam employees, though not in big numbers. Satyam's competitors are also understood to be extending offers on selective basis. Given the choice between joining clients and competitors, the trend is towards the former, because of the uncertainty perceived in other Indian IT companies, sources in Satyam indicated. The company, however, has been able to pay salaries on time. For most employees, this helped in keeping hopes alive for a while. The admission of the Rs 7,136-crore fraud by Satyam founder Mr Ramalinga Raju on January 7 has caused a big shift in the operational and management environment, employees said. "Prior to January 7, 2009, there was much dynamism and a competitive spirit pervaded all levels, which is missing to some extent now,'' said Mr Ramesh. While there is no lapse in the quality of deliverables and schedules, the work environment is marked by a lack of enthusiasm and optimism, he said. Source: THE HINDU Business Line

The biggest IT company in India TCS is still a $5 Billion Company. IBM the largest IT company in the world is a $100 Billion company. See the difference.

IBM has increased the headcount in India quietly to 70,000 now which is more then Cognizant. Even if IBM increase headcount by another 60-70% it will beat Wipro, Infosys and TCS to become largest IT company in Indian soil also.

This shows 2 types of oppotunities

Bigger MNCs like IBM, Accenture, HP which still have 60% staff in high cost locations have a lot more offshoring to do. No Client is a fool to pay $85-$100 per hour for a job in US if it can be done for $25-$32 in Chennai or Bangalore. (In my billing rate example I have taken rates of high end skills like Middleware,etc under current market conditions).Indian IT companies are still kids friends when you look at global market where IBMs and HPs are real giants. So Indian IT companies still have a lot to grow and they have to hire even more freshers every year.

All of us feel sorry for those Satyam employees getting pink slips. But it is not the end. They should look for some IT job even with lower salaries to keep going and gain on experience. If they can manage somehow with some IT related jobs for the next critical period of about 18 months or so, then they will get their day with good salaries.

When u get a high paying job which you dont deserve then u dont cry; but when they find out u r worthless and throw u out u cry. Satyam has to get rid of its useless flab and it did it. Good for the economy. As for 11999 or whatever strange number leaving the one of your relative, they can go and work for their worth, which might mean a 80% cut in salary. WHO CARES! There are many farmers dying, who cares if some 13999 guys lose jobs which they never deserved, especially the salary part!

I think you are just getting a lot things in the mix. The thread was about folks who would be affected that indirectly affecting the Real Estate. Whether RE goes up or not is another story. I just found some info and put it in here based on the thread topic. Farmers are not in the loop in this thread with regard to RE. Farmers committing suicide can be either rain failed or they are not able to repay the loans due to failed crop season. Probably not due to they investing in RE. Which I don't think they would do.

I think you are just getting a lot things in the mix. The thread was about folks who would be affected that indirectly affecting the Real Estate. Whether RE goes up or not is another story. I just found some info and put it in here based on the thread topic. Farmers are not in the loop in this thread with regard to RE. Farmers committing suicide can be either rain failed or they are not able to repay the loans due to failed crop season. Probably not due to they investing in RE. Which I don't think they would do.

I suspect you are confused Unicorn. The fact is that Satyam staff being sacked is not an object of pity on this board. Farmers also affect the economy and thereby relevant to RE. REmember RE is part of economy. So if a few Satyam guys lose jobs that wont bring down RE in Chennai. However if farmers get into trouble the govt will be forced to give concessions and that can lead to economic catastophe leading to RE trouble. I hope you get your Economics right. Otherwise take a course with Wisey on Eco and you will be totally confused instead of being partially confused.

Satyam to lay off 12000 to 14000 folks. News in rediff. I'd known this via unofficial means. One of my relatives has been affected because of this.

Rupee appreciating faster against dollar is bad news for IT employees.So far IT companies have managed to hold on inspite of fewer projects was because of rupee depreciating against dollar.Now expect salary cut,layoffs to accelerate at a faster pace.IT People who are paying hefty EMIs will be cursing their stars now.

Rupee appreciating faster against dollar is bad news for IT employees.So far IT companies have managed to hold on inspite of fewer projects was because of rupee depreciating against dollar.Now expect salary cut,layoffs to accelerate at a faster pace.IT People who are paying hefty EMIs will be cursing their stars now.

Hope you are right and IT guys learn the worth of farming! High time our IT guys stop cheating farmers by depreciating the rupee, the only way that Narayana murthy to today's IT guys have used to make money. Hope Rupee comes back to 12 a USD as it was in 80s.

And Satyam is NOT the only company to right-size the headcount based on the future growth prospects/projects, Am hearing ALL the companies are doing this exercise including the 180 (10 %) lay-off on 22-May-2009 in which a close friend of mine works for years.

Gone are the days when people greeted TGIF but now people are scared of Fridays.

And Satyam is NOT the only company to right-size the headcount based on the future growth prospects/projects, Am hearing ALL the companies are doing this exercise including the 180 (10 %) lay-off on 22-May-2009 in which a close friend of mine works for years.

Gone are the days when people greeted TGIF but now people are scared of Fridays.

the RE market had already discounted this and this forum had laid off 55000satyamites with their dependant jobs.so as far as this forum is concerened it is a creation of 30000 jobs

the RE market had already discounted this and this forum had laid off 55000satyamites with their dependant jobs.so as far as this forum is concerened it is a creation of 30000 jobs

the RE market had already discounted this and this forum had laid off 55000satyamites with their dependant jobs.so as far as this forum is concerened it is a creation of 30000 jobs

the RE market had already discounted this and this forum had laid off 55000satyamites with their dependant jobs.so as far as this forum is concerened it is a creation of 30000 jobs